The modern office space stock in Bucharest has grown four-fold in the last ten years from fewer than 500,000 square meters in 2005 to more than 2.2 million in 2015 and is set to go beyond 2.3 million square meters by yearend.
“The office space stock in Bucharest is much lower than in the main capitals in Central and Eastern Europe (Warsaw, Prague, Budapest),” says Mihaela Galatanu, head of research with DTZ Echinox.
“There is clearly room for growth in this department, as Bucharest is the biggest capital by number of inhabitants. Bucharest will need new office buildings as long as demand remains high.”
A number of office buildings are currently under construction in Bucharest so 2015 and 2016 will see almost 400,000 square meters of office space delivered.
Some office buildings have already been inaugurated in the first half, such as the B building in the Green Court complex developed by Sweden’s Skanska, with Bucharest One, developed by businessman Ioannis Papalekas’s Globalworth, expected to be delivered by yearend.
(English version by Loredana Fratila-Cristescu)